IHS Markit Prone to Be part of Race for Crypto Indexes on Wall Avenue: Exec

IHS Markit will possible be part of the cryptocurrency index recreation, the corporate’s President of Monetary Providers Adam Kansler stated in the course of the monetary info large’s Wednesday earnings name.

Kansler informed analysts that IHS Markit already has “tactical partnerships” with crypto corporations like Lukka to supply cryptocurrency pricing and reference knowledge. These knowledge factors might type the bedrock of a cryptocurrency index product though Kansler stated IHS Markit at present makes use of them to assist purchasers worth portfolios.

“So it’s an space the place we’ll proceed to focus not simply on the valuations facet, however most likely even transferring into the index facet within the close to future as nicely,” he stated, referring to cryptocurrencies.

IHS Markit executives acknowledged Wednesday that bitcoin has generational momentum behind it. Chairman and CEO Lance Uggla stated the youthful ranks of his agency are chomping for extra merchandise within the crypto house, even when the agency has “nothing huge and important” within the pipeline.

“After all, now we have each millennial that works for us thinks we should always have a serious pricing, knowledge companies, software program and participation round a market that’s actually legitimizing itself. So we’ve obtained to take it critically,” he stated.

IHS Markit is barreling towards a stronger stance in crypto on a number of fronts. In November, it partnered with crypto knowledge agency Lukka to develop crypto knowledge merchandise for Wall Avenue. And a unit of S&P World, which has agreed to purchase IHS Markit for $44 billion, already has plans to construct a crypto index product with Lukka.

Representatives for IHS Markit and Lukka didn’t instantly reply to request for remark.